Some claim the world has achieved tremendous progress and prosperity, however, many believe that more than half of the world’s population are still struggling to have fulfilled their basic needs such as food, clothing, and shelter. Few are enjoying the wealth while many are suffering from extreme poverty. The patterns of resources distribution are extremely… Continue reading Justice is denied by designed
T. M. Scanlon, Professor at Harvard University, describes the biggest four reasons why INEQUALITY is bad for society (Ideas.Ted.Com) 1. Economic inequality can give wealthier people an unacceptable degree of control over the lives of others. 2. Economic inequality can undermine the fairness of political institutions. 3. Economic inequality undermines the fairness of the economic system… Continue reading The 4 biggest reasons why inequality is bad: T. M. Scanlon
An Economy For the 1%: How privilege and power in the economy drive extreme inequality and how this can be stopped The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to… Continue reading The richest one percent now have more wealth than the rest of the world combined: Oxfam
The UK today is one of the developed world’s most unequal nations, with the richest 1,000 people owning more wealth than 40% of the population, or 25.6 million people. Inequality has stretched our society to breaking point, with vast material differences creating huge social distances. It’s why over 80% of people are now concerned about the gap between rich and poor, and why even billionaires such as Bill Gates and Warren Buffett have voiced concerns over inequality. But inequality isn’t inevitable, it can be reversed. For this to happen we need our politicians to commit to its reduction.
In total the richest ten per cent receives £977.4 million in transport subsidy; the poorest ten per cent receives just £296.7 million. Per household the richest ten per cent receives nearly double the subsidy of the poorest ten per cent, £294 per year compared to £162 for the poorest households. For the rail system alone the richest ten per cent receives over three and a half times Continue reading
For all of us who live and work at the sharp end of cuts – minimum-wage employees surviving on diminishing benefits, disabled people, tenants facing eviction, NHS employees – the destructive impact of austerity is clear. Austerity damages society, It is a smokescreen for the ideologically driven destruction of the welfare state and all the evidence shows that it’s bad for economic growth, too.
Being immensely rich, he can endow universities, and secure that the most influential part of academic opinion shall be subservient to him. Being at the head of the plutocracy, he is the natural leader of all those whose political thought is dominated by fear of Communism. Being the possessor of economic power, he can distribute prosperity or ruin to whole nations as he chooses.- Bertrand Russell ...